Top commercial real estate deals: Second quarter 2010 – First quarter 2011

Size:  $6,400,000

Size (s.f.): 66,168

Buyer: LRG Properties

For the tenant: LRG Properties

Owner: LRG Properties

Listing: Roger Smith of Cornish & Carey Newmark Knight Frank

Deal done: April 2011

LRG Capital Real Estate Partners I Fund, affiliated with Larkspur-based LRG Capital Group, acquired the retail and office center via a May 2010 deal to lease the property with a purchase option from Fair-Anselm Center Inc. The new anchor tenant will be Good Earth Natural & Organic Foods. [See related lease above.]

"This process allowed LRG to take over management and redevelopment of the project earlier than would otherwise had been possible," Roger Smith said.  "The previous owners recognized that the property needed ownership that was better positioned with the skills needed to handle the complexities of the redevelopment process."

Seller financing helped LRG exercise the purchase option this year before the property was fully leased in the "worst commercial real estate market" in Marin County in five decades, he said.

189 Sir Francis Drake Blvd., Greenbrae

Price: $4,900,000

Size (s.f.): 10,079

Buyer: 189 SFD, LLC

For the buyer: Matt Brown of Meridian Commercial

Seller: SENE Trust

Listing: Brian Eisberg and David Walwyn of Cornish & Carey Newmark Knight Frank

Deal done: December 2010

The $486-a-square-foot sale price -- in an all-cash, quick-close deal -- was a recent high point for the Marin County office market. The buyer is affiliated with the Douglas family, who operate Douglas Telecommunications in a building nearby. The building was formerly occupied by Pacific Union Real Estate and could be the future home for the Douglas company.

2505 Kerner Blvd., San Rafael

Price: $2,850,000

Size (s.f.): 19,704

Buyer: TiNi Aerospace

For the buyer: Jerry Suyderhoud of Cornish & Carey Newmark Knight Frank

Seller: Cypress Partners VI

Listing: Jacques Yenni of Jacques Yenni Real Estate

Deal done: October 2010

Michael and Diane Bokaie, Marin County residents and owners of TiNi Aerospace, used SBA financing to acquire a vacant Bayview Business Park office and research-and-development building. They are relocating their spacecraft components company from San Leandro.

1177 Magnolia Ave., Larkspur

Price: $2,100,000

Size (s.f.): 5,091

Buyer: Mougle West Properties, LLC

For the buyer: Vesa Becam of Keegan & Coppin

Seller: McLeran Properties, LLC

Listing: n/a

Deal done: Oct. 15, 2010

Veterinarian Rob West acquired the former Westamerica Bank branch to reshape the property for Magnolia Pet Hospital.

Napa County leases770 Skyway Ct., Napa

Size (s.f.): 101,200

Tenant: Zephyr Express, Inc.

For the tenant: Bill Kampton and Phil Garrett of Colliers International

Owner: Carlsen Investments

Listing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & Wakefield

Deal done: June 2010

Wine storage and California delivery service Zephyr Express signed a three-year lease and relocated from 100,000 square feet in American Canyon to 770 Skyway in Napa Valley Corporate Park.

660 Airpark Rd., Napa

Size (s.f.): 80,194

Tenant: California Wine Transport

Owner: Carlsen Investments

Listing and for the tenant: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & Wakefield

Deal done: October 2010

San Jose-based California Wine Transport has offices in Sacramento and Napa, where the company also operates California Wine Consolidators. CWT had occupied 63,656 square feet at 660 Airpark since January 2003. Last year the company expanded into 16,538 square feet given up by neighboring tenant The Fulfillment Co., which downsized to about 40,000 square feet, according to Matt Bracco. Carlsen Investments agreed to insulate and add air conditioning in exchange for a lease extension through July 2016.

560 Technology Dr., Napa

Size (s.f.): 42,196

Tenant: Portocork America, Inc.

Owner: L2 Ventures, LLC

Listing and for the tenant: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & Wakefield

Deal done: March 2011

Portocork America, a distribution arm of Portocork International of Portugal, has been operating in Napa since it started in 1983. In this deal, the company opted to renew its lease by seven and a half years and expand.

Napa Century Center, Imola Avenue and new Silverado Trail extension, Napa

Size (s.f.): 41,700

Consideration: $14.9 million

Tenant: Cinemark Holdings

Owner: Gasser Foundation

Listing: Jim Henry of Strong & Hayden Commercial Real Estate

Deal done: Dec. 2, 2010

Movie theater operator Cinemark entered a 15-year ground lease for a 12-screen ultramodern venue to anchor a 163,000-square-foot retail and restaurant development now called Napa Century Center. Cinemark currently operates the eight-screen Cinedome at a downtown Napa property set to be significantly reworked as part of the ongoing flood-control project. The new theaters are set to open in summer 2012. This is the first of a two-part development of a large stretch of commercial and mixed-use property along Napa River.

511 Alexis Ct., Napa

Size (s.f.): 20,802

Tenant: Wine Country Kitchens

Owner: Barbara Bonds McDaniel

Listing and for the tenant: Glen Dowling, Chris Neeb and Matt Bracco of Cushman & Wakefield

Deal done: December 2010

A co-packager and private label producer of gourmet sauces, mixes, oils and dips, Wine Country Kitchens started in 1995 and has occupied the space since 2002. The deal was a five-year lease renewal for the same amount of space.

Napa County sales600-650, 615-621 Airpark Road (Napa Airport Centre), Napa

Price: $30 million

Size (s.f.): 256,669

Buyer: Westcore Properties

For the buyer and listing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & Wakefield

Seller: Profili Family Partnership LLC

Deal done: January 2011

Westcore Properties expanded its North Bay holdings beyond Mariner’s Landing, a cluster of industrial buildings in Sausalito, to acquire eight office and industrial buildings in south Napa. The buildings were 98 percent leased to 10 tenants when sold. This was arguably the largest commercial real estate deal in the 12-month period.

1314 Mckinstry St. (Westin Verasa Napa), Napa

Price: $29 million

Size: 180 rooms, 12,000 square feet of meeting space

Buyer: VY Verasa Residential Company, LLC

Seller: Intrawest Corp.

Deal done: August 2010

The three-story hotel was built in 2008 as part of a wave of commercial construction in central Napa.

2513 Laurel St. (Napa Garden), Napa

Price: $14,800,000

Size (s.f.): 127,838 (162 units)

Buyer: Napa Gardens, LLC

For the buyer: Nicholas Russell of Cassidy Turley BT Commercial

Seller: 3D Investments, LLC

Listing: Ric Russell and Scott MacDonald of Cassidy Turley BT

Deal done: September 2010Robert Imhoff, as Napa Gardens LLC, acquired the 22-building property. He operates Landmark Realty in San Francisco and has dozens of rental-housing properties. Assumption of a $12.1 million, 6.12 percent interest refinanced Fannie Mae loan maturing in 2018 was key to a lower loan-to-price ratio, according to the brokers.

37 Executive Ct. (Napa Valley Crossroads), Napa

Price: n/a

Size (s.f.): 163,687

Buyer: Whal Family Trust

For the buyer and listing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & Wakefield

Seller: Panattoni Development Co.

Deal done: April 2010

The family was a partner with Panattoni Development in the two-building, 315,000-square-foot Napa Valley Crossroads warehouse project at the northeast corner of highways 29 and 12 near Napa County Airport. Trinchero Family Estates leased one full building this past summer and made the whole property fully leased.

2700 Valle Verde Dr., Napa

Price: n/a

Size (s.f.): 39,771 (72 units)

Buyer: Bridge Norcal LLC

For the buyer: Jim Henry and Gary Van Dam of Strong & Hayden Commercial Real Estate

Seller: Sunrise Napa Assisted Living

Listing: Marcus & Millichap

Deal done: Feb. 23, 2011

Sale of a 72-unit assisted-living center for affordable housing.

Solano County leases2050 Cessna Dr., Vacaville

Size (s.f.): 220,800 SF

Tenant: North Bay Distribution

Owner: Buzz Oates

Listing: Phil Garrett, Jon Quick and Brooks Pedder of Colliers International

Deal done: March 21, 2011

North Bay Distribution will be using this former high-end Serta Mattresses manufacturing facility for warehousing and distributing.

2701 Maxwell Way, Fairfield

Size (s.f.): 98,190

Tenant: Amcor Rigid Plastics

Listing and for the tenant: Jon Quick of Colliers International

Owner: 1801 Gough Associates

Deal done: July 22, 2010

Amcor Rigid Plastics renewed its lease for this high-clear-height warehouse.

6500 Goodyear Rd., Benicia

Size (s.f.): 41,920

Tenant: Lord & Sons

For the tenant: Alden Management Group

Owner: WCV Commercial Properties

Listing: Brooks Pedder and Phil Garrett of Colliers International

Deal done: May 12, 2010

Lord & Sons renewed its lease.

801 Chadbourne Rd., Fairfield

Size (s.f.): 36,650

Tenant: Harbinger

Owner: 801 Chadbourne, LLC

Listing: Brooks Pedder & Phil Garrett Colliers International

For the tenant: n/a

Deal done: June 22, 2010

Longtime Napa sports apparel manufacturer Harbinger relocated to Solano County.

535 Getty Ct., Stes. A-D, Benicia

Size (s.f.): 28,224

Tenant: Restoration Management

Owner: WCV Commercial Properties

Listing and for the tenant: Brooks Pedder, Phil Garrett and Tony Binswanger of Colliers International

Deal done: Dec. 10, 2010

Restoration Management renewed its lease of the warehouse.

Solano County sales4350 Central Pl., Fairfield

Price: $3,439,720

Size (s.f.): 43,434

Buyer: Sheet Metal Workers Local 104 & Bay Area Industry Training Fund

For the buyer: GVA Kidder Matthews

Seller: Fairfield CW1 Associates, Ltd.

Listing: Brooks Pedder and Jon Quick of Colliers International

Deal done: Sept. 1, 2010

The light industrial and retail building was built in 1984 for Camping World, which relocated in January 2009. The union purchased the property to convert it to a training facility for apprentices.

892 Aldridge Rd., Vacaville

Price: $1,030,000

Size (s.f.): 10,040

Buyer: Curt and Cheryl Posthuma (Summit Crane)

For the buyer: Deborah Muth and Doug Williams of Kappel & Kappel

Seller: Held & Fick

Listing: Greg Smyth of CB Richard Ellis

Date done: Dec. 16, 2010Sonoma County leases1010 Shiloh Rd., Windsor

Size (s.f.): 169,027

Tenant: Alexander Valley Cellars

For the tenant: Shawn Johnson of Keegan & Coppin

Owner: Constellation Wines US, Inc.

Listing: Mike Flitner of Keegan & Coppin

Deal done: Oct. 20, 2010Alexander Valley Cellars subleased a major portion of the 289,000-square-foot former Clos Du Bois distribution facility, one of Sonoma County's largest warehouses, to centralize wine warehousing and expand its direct-to-consumer fulfillment division.

3000 Dutton Ave., Santa Rosa

Size (s.f.): 109,498

Tenant: Amy’s Kitchen, Inc.

Listing and for the tenant: Mike Flitner of Keegan & Coppin

Owner: 3000 Dutton Ave., Inc.

Deal done: Feb. 19, 2011

The packaged natural foods producer signed a 10-year lease for space vacated when Ritz Foodservice closed two years ago. Amy's Kitchen is consolidating a few operations from southwest Santa Rosa and the Central Valley.

2277 Pineview Way, Petaluma

Size (s.f.): 87,339

Tenant: Workrite Ergonomics Inc.

For the tenant: Trevor Buck of Cassidy Turley BT Commercial

Owner: LBA Realty

Listing: Steve Leonard and Mr. Buck of Cassidy Turley BT

Deal done: March 4, 2011

Workrite Ergonomics, which moved to south Petaluma from Novato in 2001, will be relocating from 123,000 square feet to most of a 105,000-square-foot former Sola Optical USA/Ziess building also on the southeast edge of the city later this year. The deal involves relocation of existing tenant Scott Laboratories to another side of the building and doubling its footprint to about 30,000 square feet, something that was still in progress at press time, allowing Workrite to have the most efficient space, according to Steven Leonard. The once mostly vacant building will be fully leased.

3800 Lakeville Hwy., Petaluma

Size (s.f.): 50,304

Tenant: Hydrofarm, Inc.

For the tenant: Nick Egide of Meridian Commercial

Owner: Bill and Harry Friedman

Listing: Chris Castellucci of Keegan & Coppin

Deal done: Aug. 30, 2010

The maker of indoor gardening equipment outgrew its 150,000-square-foot south Petaluma campus as revenues grew 50 percent in 2008. Hydrofarm first leased 28,000 square feet of warehouse space at 3925 Cypress Dr. then a one-year lease with extension options for 50,300 square feet at 3800 Lakeville.

2227 Capricorn Way, Santa Rosa

Size (s.f.): 46,278

Tenant: County of Sonoma

For the tenant: Dave Peterson of Keegan & Coppin

Owner: CA-The Lakes LP

Listing: Rob Elias of Equity Office Properties

Deal done: Dec. 14, 2010

The county of Sonoma plans to consolidate its job-seeker services to one southwest Santa Rosa office by June. The Lakes managing partner Equity Office Properties beat six top contending landlords from Sonoma County Airport to Rohnert Park, all offering $3 million in improvements and moving allowances, by lowering the rent by $111,000. To accommodate the county, existing tenants were relocated in The Lakes or to other nearby properties managed by Equity Office.

100 Market St., Windsor

Size (s.f.): 42,500

Tenant: Multi-Contact USA

For the tenant and owner: Craig Delles, Ham Delles Co. Inc.

Owner: Richard Mendelsohn

Deal done: September 2010Sonoma County sales1 Lakeville Cir. (Enclave at Adobe Creek), Petaluma

Price: $68 million

Size: 492 units

Buyer: KW G&I VI Petaluma LP

Seller: AMFP QVT Enclave LLC

For the seller: Stan Jones and Phil Saglimbeni of Institutional Property Advisors

Deal done: Feb. 14, 2011

The seller -- Abacus Capital Group and Los Angeles-based real estate private equity fund QVT Mount Auburn Capital LP -- invested $2 million in property upgrades after buying the former Lakeville Resort Apartments in late 2009 for $52 million. Better collections and rent helped boost monthly revenue for one of Sonoma County's largest multifamily properties 17 percent above what it was 15 months before.

The buyer is made up of Beverly Hills-based Kennedy Wilson Holdings Inc.’s Kennedy Wilson Property Fund III and DRA Growth & Income Fund VI, an affiliate of New York-based DRA Advisors LLC.

1301, 1310 and 1318 Redwood Way, 1415 and 1485 N. McDowell Blvd., Petaluma

Price: $8,000,000

Size (s.f.): 160,000

Buyer: RBP Round Two Office Investors, LLC (Basin Street Properties)

For the buyer and listing: Cherie Huillade and Mark Hinkins of Grubb & Ellis

Seller: SA Challenger Inc.

Deal done: March 17, 2011Basin Street Properties bought back five of the buildings it developed in 1.1 million-square-foot master-planned Redwood Business Park. They were part of 44 buildings sold to Equity Office Properties in 2005 for $265 million. About a dozen and a half of the buildings in Petaluma and Santa Rosa have reverted to lenders or are expected to soon. During the deal, a day care center building was sold to an investor. Basin Street plans to spend millions of dollars in repairs and updating of the buildings and has been offering to shift nearby tenants into the four buildings, which were 40 percent occupied when sold.

1179 McDowell Blvd. N., Petaluma

Price: $4,710,000

Size (s.f.): 53,000

Buyer: Petaluma Health Center

For the buyer: Tony Sarno and Mike Thomason of Keegan & Coppin

Seller: CA-McDowell Campus LP

Listing: Will Connors

Deal done: May 25, 2010

In summer 2009, Petaluma Health Center started looking for a building to lease or buy for a new clinic. Within a few months, 15 buildings Equity Office Properties owned in Petaluma and Santa Rosa started moving to special loan servicers and into foreclosure the following year. The timing and price worked out well for the health center, which is spending about $9 million more converting and outfitting the facility, which is set to open in June.

Parkpoint Business Center, 1211-1235 N. Dutton Ave. and 405 W. College Ave., Santa Rosa

Price: nearly $4,000,000

Size (s.f.): 69,306 (five office buildings)

Buyer: Presidio Development Partners LLC

Seller: CW Capital

Listing and for the buyer: Glen Dowling, Sean Heaton and Josh Lindberg of Cushman & Wakefield

Deal done: Dec. 13, 2010San Francisco-based Presidio Development acquired the buildings from a special servicer that foreclosed on the former Equity Office Properties holding in June. The company plans to spend $2 million in upgrades.

3725 Mayette Ave. (Mayette Apartments), Santa Rosa

Price: $2,800,000

Size (s.f.): 19,200 (32 units)

Buyer: Louis and Janis Ferrari

For the buyer: Mitchelle Hooshyari, Valley of California, Inc.

Seller: M Capital Funding, LLC

Listing: Annette Cooper and Joel Jaman of Keegan & Coppin

Deal done: Aug. 11, 2010

The six-building east Santa Rosa apartment complex was built in 1971.

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AMPLIFICATION, May 12, 2011: The 42,500-square-foot lease of 100 Market St. in Windsor to Multi-Contact USA was added as a significant deal of the report time period.